TAIPEI (Taiwan News) — Taiwan Beer announced on Monday (June 12) it has raised prices for a range of products as inflation pushes up the cost of raw materials.

The measure, implemented on June 1, saw a 1% to 7% increase in the prices for its Classic, Gold Medal, and unpasteurized Draft Beer (18 Days), according to Taiwan Tobacco and Liquor Corporation (TTL), which owns Taiwan Beer.

The move affects wholesalers, which mostly do business with nightclubs and restaurants. However, a rise in prices is also set to hit supermarkets, convenience stores, and other retailers in August.

How the price hike will be reflected on menus for end consumers may vary depending on the extent to which businesses will absorb the cost. The company said it was necessary to raise prices, which it has not done in 20 years, for it to profit, reported CNA.

TTL did not raise prices for its rice cooking wine products, despite continuing to post losses. This is because a hike in the widely used rice wine could have broad ramifications across Taiwan.

Taiwan Beer has a market share of 53% in Taiwan, followed by the Dutch brand Heineken (20%) and Japan’s Qilin (10%), per China Times.